Summit Global Investments Cuts Position in Amphenol Co. (NYSE:APH)

Summit Global Investments trimmed its stake in Amphenol Co. (NYSE:APH - Free Report) by 79.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 9,619 shares of the electronics maker's stock after selling 37,925 shares during the period. Summit Global Investments' holdings in Amphenol were worth $668,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in the stock. Tacita Capital Inc boosted its stake in shares of Amphenol by 328.9% in the fourth quarter. Tacita Capital Inc now owns 386 shares of the electronics maker's stock valued at $27,000 after purchasing an additional 296 shares during the period. Sierra Ocean LLC acquired a new stake in Amphenol during the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC purchased a new position in Amphenol in the 4th quarter valued at approximately $28,000. Rakuten Securities Inc. grew its stake in shares of Amphenol by 703.8% in the fourth quarter. Rakuten Securities Inc. now owns 418 shares of the electronics maker's stock worth $29,000 after acquiring an additional 366 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in shares of Amphenol by 50.0% in the third quarter. Brown Brothers Harriman & Co. now owns 498 shares of the electronics maker's stock valued at $32,000 after acquiring an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company's stock.

Amphenol Stock Performance

Amphenol stock traded up $0.69 during midday trading on Thursday, hitting $68.27. 8,033,368 shares of the company's stock were exchanged, compared to its average volume of 6,936,905. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.75 and a current ratio of 2.37. The stock has a market cap of $82.73 billion, a price-to-earnings ratio of 35.65, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. Amphenol Co. has a 12-month low of $54.72 and a 12-month high of $79.39. The firm's 50 day simple moving average is $67.95 and its 200 day simple moving average is $68.69.

Remove Ads

Amphenol (NYSE:APH - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.05. The firm had revenue of $4.32 billion for the quarter, compared to analyst estimates of $4.05 billion. Amphenol had a return on equity of 25.67% and a net margin of 15.92%. The business's revenue was up 29.8% on a year-over-year basis. During the same quarter last year, the company posted $0.82 earnings per share. Equities research analysts predict that Amphenol Co. will post 2.36 EPS for the current year.

Amphenol Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 18th will be paid a dividend of $0.165 per share. The ex-dividend date is Tuesday, March 18th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.97%. Amphenol's dividend payout ratio (DPR) is 34.55%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. The Goldman Sachs Group raised their target price on shares of Amphenol from $79.00 to $89.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Robert W. Baird boosted their target price on shares of Amphenol from $85.00 to $89.00 and gave the stock an "outperform" rating in a research note on Thursday, January 23rd. Bank of America raised their price target on Amphenol from $75.00 to $85.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Citigroup lifted their price target on Amphenol from $81.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. raised their target price on Amphenol from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $80.68.

About Amphenol

Amphenol Corporation, together with its subsidiaries, primarily designs, manufactures, and markets electrical, electronic, and fiber optic connectors in the United States, China, and internationally. It operates through three segments: Harsh Environment Solutions, Communications Solutions, and Interconnect and Sensor Systems.